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Name
|
| |
Age
|
| |
Position(s)
|
|
Class I Directors: | | | | | | | |
Allen Nissenson, MD(3) | | |
75
|
| | Director | |
Class II Directors: | | | | | | | |
John G. Cooper(1)(2) | | |
63
|
| | Director | |
Mark H. Ravich(1)(2) | | |
69
|
| | Director | |
Andrea Heslin Smiley(2)(3) | | |
54
|
| | Director | |
Class III Director Nominees: | | | | | | | |
Russell H. Ellison, M.D. | | |
74
|
| | President and Chief Executive Officer, Director | |
Robert S. Radie(1)(3) | | |
58
|
| | Director | |
| | |
Female
|
| |
Male
|
| |
Non-
Binary |
| |
Did Not
Disclose Gender |
| ||||||
Part I: Gender Identity | | | | | | | | | | | | | | | | | | | |
Directors
|
| | | | 1 | | | | | | 6 | | | | | | | | |
Part II: Demographic Background | | | | | | | | | | | | | | | | | | | |
African American or Black | | | | | | | | | | | | | | | | | | | |
Alaskan Native or Native American | | | | | | | | | | | | | | | | | | | |
Asian | | | | | | | | | | | | | | | | | | | |
Hispanic or Latinx | | | | | | | | | | | | | | | | | | | |
Native Hawaiian or Pacific Islander | | | | | | | | | | | | | | | | | | | |
White
|
| | | | 1 | | | | | | 6 | | | | | | | | |
Two or More Races or Ethnicities | | | | | | | | | | | | | | | | | | | |
LGBTQ+ | | | | | | | | | | | | | | | | | | | |
Did not disclose Demographic Background | | | | | | | | | | | | | | | | | | | |
Name
|
| |
Age
|
| |
Position(s)
|
|
Russell Skibsted | | |
63
|
| | Chief Financial Officer and Chief Business Officer | |
Marc Hoffman, M.D.
|
| |
61
|
| | Chief Medical Officer | |
Paul E. McGarry | | |
54
|
| |
Vice President, Corporate Controller and Principal Accounting Officer
|
|
Megan Timmins | | |
49
|
| | Senior Vice President, General Counsel and Secretary | |
Name and Principal Position
|
| |
Year
|
| |
Salary ($)
|
| |
Bonus ($)(b)
|
| |
Stock
Awards ($)(c) |
| |
Option
Awards ($)(d) |
| |
Non-Equity
Incentive Plan Compensation ($)(e) |
| |
All Other
Compensation ($)(f) |
| |
Total ($)
|
| ||||||||||||||||||||||||
Russell Ellison
|
| | | | 2021 | | | | | | 501,135 | | | | | | — | | | | | | — | | | | | | 126,402 | | | | | | — | | | | | | — | | | | | | 627,537 | | |
Chief Executive Officer(a)
|
| | | | 2020 | | | | | | 367,687 | | | | | | — | | | | | | 23,316 | | | | | | 1,894,013 | | | | | | 195,616 | | | | | | — | | | | | | 2,480,632 | | |
Russell Skibsted
|
| | | | 2021 | | | | | | 460,000 | | | | | | 128,750 | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,173 | | | | | | 598,923 | | |
Chief Financial Officer
|
| | | | 2020 | | | | | | 130,923 | | | | | | — | | | | | | — | | | | | | 586,219 | | | | | | — | | | | | | — | | | | | | 717,142 | | |
Raymond Pratt
|
| | | | 2021 | | | | | | 483,649 | | | | | | — | | | | | | — | | | | | | 71,101 | | | | | | 84,638 | | | | | | 14,592 | | | | | | 653,980 | | |
Former Chief Development Officer(g)
|
| | | | 2020 | | | | | | 469,585 | | | | | | — | | | | | | — | | | | | | — | | | | | | 111,521 | | | | | | — | | | | | | 581,106 | | |
Options
|
| |
Year Granted
|
| |
Dividend Yield
|
| |
Risk Free Rate
|
| |
Volatility
|
| |
Expected Life
|
|
Russell Ellison
|
| |
2021
|
| |
0.00%
|
| |
1.00%
|
| |
77.74%
|
| |
6 Years
|
|
Raymond Pratt
|
| |
2021
|
| |
0.00%
|
| |
1.00%
|
| |
77.74%
|
| |
6 Years
|
|
| | | | | |
Option Awards
|
| |
Stock Awards
|
| | |||||||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant
Date |
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#)(a) Unexercisable |
| |
Equity
Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number
of Shares That Have Not Vested (#)(b) |
| |
Market
Value of Shares That Have Not Vested ($)(c) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights that Have not Vested (#)(d) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights that have not Vested ($)(c) |
| | ||||||||||||||||||||||||||
Russell Ellison
|
| |
5/3/2021
|
| | | | — | | | | | | 200,000 | | | | | | — | | | | | | 0.94 | | | |
5/3/2031
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
| | |
4/17/2020
|
| | | | 200,000 | | | | | | 400,000 | | | | | | — | | | | | | 2.45 | | | |
4/17/2030
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
| | |
1/9/2020
|
| | | | 16,895 | | | | | | | | | | | | — | | | | | | 2.32 | | | |
1/9/2030
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | |
Russell Skibsted
|
| |
9/15/2020
|
| | | | 200,000 | | | | | | 400,000 | | | | | | — | | | | | | 1.22 | | | |
9/15/2030
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
Raymond Pratt
|
| |
5/3/2021
|
| | | | — | | | | | | 112,500 | | | | | | — | | | | | | 0.94 | | | |
5/3/2031
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
| | |
4/26/2019
|
| | | | 46,667 | | | | | | 23,333 | | | | | | — | | | | | | 4.81 | | | |
4/26/2029
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
| | |
4/26/2019
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | |
—
|
| | | | 13,333 | | | | | | 5,467 | | | | | | — | | | | | | — | | | | ||
| | |
3/21/2017
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | |
—
|
| | | | — | | | | | | — | | | | | | 68,500 | | | | | | 20,085 | | | | ||
| | |
10/2/2015
|
| | | | 215,000 | | | | | | — | | | | | | — | | | | | | 8.23 | | | |
10/2/2025
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
| | |
10/1/2014
|
| | | | 50,000 | | | | | | — | | | | | | — | | | | | | 8.88 | | | |
10/1/2024
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
| | |
1/13/2014
|
| | | | 150,000 | | | | | | — | | | | | | — | | | | | | 10.10 | | | |
1/13/2024
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
| | |
1/31/2013
|
| | | | 150,000 | | | | | | — | | | | | | — | | | | | | 6.12 | | | |
1/31/2023
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
| | |
5/1/2012
|
| | | | 150,000 | | | | | | — | | | | | | — | | | | | | 8.93 | | | |
5/1/2021
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | |
|
CEO
|
| | 4x base salary | |
|
All other NEOs
|
| | 2x base salary | |
|
Vice Presidents
|
| | 1x base salary | |
Name
|
| |
Fees Earned or
Paid in cash ($) |
| |
Restricted Stock Unit
Awards ($)(a) |
| |
Option
Awards ($)(a) |
| |
Total ($)
|
| ||||||||||||
John Cooper
|
| | | | 73,123 | | | | | | 44,915 | | | | | | 42,319 | | | | | | 160,357 | | |
John McLaughlin
|
| | | | 79,818 | | | | | | 44,915 | | | | | | 42,319 | | | | | | 167,052 | | |
Allen Nissenson
|
| | | | 68,034 | | | | | | 44,915 | | | | | | 42,319 | | | | | | 155,268 | | |
Robert Radie
|
| | | | 62,678 | | | | | | 44,915 | | | | | | 42,319 | | | | | | 149,912 | | |
Mark H. Ravich
|
| | | | 62,410 | | | | | | 44,915 | | | | | | 42,319 | | | | | | 149,644 | | |
Andrea Heslin Smiley
|
| | | | 63,571 | | | | | | 44,915 | | | | | | 42,319 | | | | | | 150,805 | | |
Name
|
| |
Options Held
|
| |
Restricted Stock
Units Held |
| |
Restricted
Stock Awards Held |
| |
Stock
Appreciation Rights Held |
| ||||||||||||
John Cooper
|
| | | | 169,180 | | | | | | 50,000 | | | | | | — | | | | | | 23,000 | | |
John McLaughlin
|
| | | | 135,253 | | | | | | 50,000 | | | | | | — | | | | | | — | | |
Allen Nissenson
|
| | | | 107,496 | | | | | | 50,000 | | | | | | — | | | | | | — | | |
Robert Radie
|
| | | | 113,029 | | | | | | 50,000 | | | | | | — | | | | | | — | | |
Mark H. Ravich
|
| | | | 167,758 | | | | | | 50,000 | | | | | | — | | | | | | — | | |
Andrea Heslin Smiley
|
| | | | 98,899 | | | | | | 50,000 | | | | | | — | | | | | | — | | |
| | |
2020
|
| |
2021
|
| ||||||
Audit Fees(a)
|
| | | $ | 849,650 | | | | | $ | 547,500 | | |
Audit-Related Fees
|
| | | | — | | | | | | — | | |
Tax Fees
|
| | | | — | | | | | | — | | |
All Other Fees
|
| | | | — | | | | | | — | | |
| | |
Before Reverse
Stock Split |
| |
Reverse
Stock Split Ratio of 1-for-2 |
| |
Reverse
Stock Split Ratio of 1-for-8 |
| |
Reverse
Stock Split Ratio of 1-for-15 |
| ||||||||||||
Number of Shares of Common Stock Issued and Outstanding
|
| | | | 93,986,470 | | | | | | 46,993,235 | | | | | | 11,748,308 | | | | | | 6,265,764 | | |
Number of Shares of Common Stock Reserved for
Issuance Pursuant to Outstanding Options, Warrants and Restricted Stock Units |
| | | | 32,507,043 | | | | | | 16,253,521 | | | | | | 4,063,380 | | | | | | 2,167,136 | | |
Weighted-Average Exercise Price of Outstanding Options and Warrants
|
| | | $ | 2.25 | | | | | $ | 4.50 | | | | | $ | 18.02 | | | | | $ | 33.78 | | |
| | |
2021
|
| |
2020
|
| |
2019
|
| |||||||||
Options granted
|
| | | | 1,947,162 | | | | | | 3,038,386 | | | | | | 1,103,938 | | |
Restricted stock unit awards granted
|
| | | | 310,050 | | | | | | 208,993 | | | | | | 244,063 | | |
Less: shares subject to canceled, terminated or forfeited awards
|
| | | | 2,680,911 | | | | | | 5,328,303 | | | | | | 749,310 | | |
Net shares granted
|
| | | | 423,699 | | | | | | 2,080,924 | | | | | | 598,691 | | |
Weighted average basic common shares outstanding
|
| | | | 93,788,050 | | | | | | 75,621,674 | | | | | | 60,918,544 | | |
Net burn rate(1)(2)
|
| | | | -0.45% | | | | | | -2.75% | | | | | | 0.98% | | |
| | |
December 31,
2021 |
| |||
Shares subject to unvested restricted stock units unit awards
|
| | | | 322,065 | | |
Shares subject to outstanding stock options
|
| | | | 4,018,115 | | |
Shares available for new award grants under the 2018 Plan
|
| | | | 1,040,339 | | |
Plan Category
|
| |
Number of
securities to be issued upon exercise of outstanding options, warrants and rights |
| |
Weighted-average
exercise price of outstanding options, warrants and rights |
| |
Number of securities
remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) |
| |||||||||
| | |
(a)
|
| |
(b)
|
| |
(c)
|
| |||||||||
Equity compensation plans approved by security holders
|
| | | | 5,364,988 | | | | | $ | 3.15 | | | | | | 1,040,339 | | |
Equity compensation plans not approved by security
holders |
| | | | 850,000 | | | | | | 1.50 | | | | | | — | | |
Total
|
| | | | 6,214,988 | | | | | $ | 2.91 | | | | | | 1,040,339 | | |
Name of Individual or Group
|
| |
Number of Options
Granted (#) |
| |
Number of Shares Subject to
Stock Awards Granted (#) |
| ||||||
Russell Ellison
Chief Executive Officer |
| | | | 1,416,895 | | | | | | 10,050 | | |
Russell Skibsted
Chief Financial Officer |
| | | | — | | | | | | — | | |
Raymond Pratt
Former Chief Development Officer |
| | | | 182,500 | | | | | | 40,000 | | |
All current executive officers as a group
|
| | | | 1,749,395 | | | | | | 50,050 | | |
All current directors who are not executive officers as a group
|
| | | | 791,615 | | | | | | 571,190 | | |
Each nominee for election as a director
|
| | | | 242,749 | | | | | | 211,462 | | |
Each associate of any of the foregoing
|
| | | | — | | | | | | — | | |
Each other person who received or is to receive 5 percent of such options, warrants or rights
|
| | | | — | | | | | | — | | |
All current employees, including all current officers who are not
executive officers, as a group |
| | | | 4,511,984 | | | | | | 958,157 | | |
Name of Beneficial Owner
|
| |
Amount and Nature of
Beneficial Ownership(a) |
| |
Percent of
Class |
| ||||||
Directors and Named Executive Officers(b), | | | | | | | | | | | | | |
John G. Cooper
|
| | | | 152,202 | | | | | | * | | |
Russell H. Ellison, M.D.
|
| | | | 428,945 | | | | | | * | | |
John P. McLaughlin
|
| | | | 149,370 | | | | | | * | | |
Allen Nissenson, M.D.
|
| | | | 59,127 | | | | | | * | | |
Robert S. Radie
|
| | | | 74,861 | | | | | | * | | |
Mark H. Ravich(c)
|
| | | | 543,410 | | | | | | * | | |
Andrea Heslin Smiley
|
| | | | — | | | | | | * | | |
Russell Skibsted
|
| | | | — | | | | | | * | | |
Raymond Pratt
|
| | | | 1,142,969 | | | | | | 1.2% | | |
All directors and current executive officers as a group (11 persons)
|
| | | | 2,762,193 | | | | | | 2.9% | | |
Greater than 5% Beneficial Holders
|
| | | | | | | | | | | | |
Entities affiliated with Richmond Brothers, Inc.(d)
|
| | | | 15,249,829 | | | | | | 15.8% | | |
Name
|
| |
Restricted Shares
|
| |
Option Shares
|
| ||||||
John G. Cooper
|
| | | | — | | | | | | 96,323 | | |
Russell H. Ellison, M.D.
|
| | | | — | | | | | | 216,895 | | |
John P. McLaughlin
|
| | | | — | | | | | | 62,396 | | |
Allen Nissenson, M.D.
|
| | | | — | | | | | | 34,639 | | |
Robert S. Radie
|
| | | | — | | | | | | 40,172 | | |
Mark H. Ravich(c)
|
| | | | — | | | | | | 94,901 | | |
Andrea Heslin Smiley
|
| | | | — | | | | | | 26,042 | | |
Russell Skibsted
|
| | | | — | | | | | | 200,000 | | |
Raymond Pratt
|
| | | | 13,333 | | | | | | 785,000 | | |
Stuart Paul
|
| | | | — | | | | | | — | | |
All directors and current executive officers as a group (11 persons)
|
| | | | 13,333 | | | | | | 1,723,034 | | |
|
Wixom, Michigan April 8, 2022 |
| |
By Order of the Board of Directors,
/s/ Megan Timmins
Megan Timmins
Secretary |
|
| | | |
|
|
| | | |
Russell H. Ellison
Chief Executive Officer |
|
| | | |
|
|
| | | |
Russell H. Ellison
Chief Executive Officer |
|
| | | |
|
|
| | | |
Russell H. Ellison
Chief Executive Officer |
|